Fuel cell vehicle market share will grow at a rate of over 40% to reach a revenue of more than $11 billion by 2025 led by rising demand for curbing carbon emission levels for improving air quality. Increasing environmental concerns pertaining to vehicle emissions are leading to the higher adoption of fuel cell vehicles. Shifting preference for deploying advanced technologies in heavy-duty freight trucks for delivering efficient vehicle performance will further boost the product penetration. —
Increasing consumer spending and higher mobility requirements are escalating the hydrogen powered vehicles demand. Rapid urbanization coupled with proliferating construction activities are providing potential opportunities for the adoption of environment friendly vehicles. A lucrative growth in the economic conditions and high living standards are supporting the fuel cell vehicle market growth over the projected timeframe.
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Shifting preference for utilizing zero emission vehicles owing to their commercialization and provision of government subsidies are boosting the industry size over the forecast timeframe. Increasing demand for automotive fuel cell stacks in conjunction with expansion of production facilities will further strengthen the fuel cell vehicle market size. Introduction of advanced fuel cell stacks for heavy duty vehicles is augmenting the product penetration.
Long haul segment will witness potential growth prospects owing to rapid deployment of fuel cell electric trucks offering emission free freight transportation. Proliferating freight volumes in conjunction with increasing greenhouse gas emissions are positively inducing the utilization of fuel cell electric trucks. Introduction of EURO VI standards for buses and deployment of electric powertrains are encouraging industry players to introduce alternative fuel vehicles for catering the increasing consumer demand.
Proliferating sales of passenger vehicles coupled with rising requirement for zero emission transport facilities are driving the segment growth over the study timeframe. Adoption of new automobiles equipped with modern technologies is augmenting the segment share. Introduction of new generation hydrogen powered SUV’s is positively influencing the fuel cell vehicle market share over the study timeframe.
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Europe fuel cell vehicle market will witness significant growth owing to supportive government projects for developing zero emission fuel cell vehicles and installation of hydrogen refueling stations. Projects such as Clean Hydrogen in European Cities (CHIC) and Joint Initiative for hydrogen Vehicles (JIVE) are striving for commercialization of fuel cell electric buses, further augmenting the regional demand for fuel cell vehicles. Easier availability of e-bikes offering ease of operation in high traffic areas is strengthening the industry size over the study timeframe.
The fuel cell vehicle market is highly competitive owing to the presence of major fuel cell vehicle manufacturers including Volkswagen, Toyota Motor Corporation, Audi AG, SAIC Motor Corporation Limited, Hyundai Motor Group and Honda Motor Co. Ltd. Major industry players are engaged in manufacturing reliable and advanced fuel cell systems including Plug Power Inc., Nuvera Fuel Cells LLC., US Hybrid, Dana Limited, Ballard Power Systems, Hydrogenics, Meritor, Inc. and Sunrise Power.
Industry participants are offering attractive deals for encouraging the utilization of fuel cell vehicles. Cost effective leasing facilities and rebate offers on new cars are further encouraging the adoption of fuel cell vehicles. Honda Motor Co. Ltd offers vehicle leasing facilities in California with no security deposits. Moreover, expansion of manufacturing facilities and distribution networks are some of the prominent strategies adopted by industry players for enhancing their market share.
Browse key industry insights spread across 250 pages with 339 market data tables & 11 figures & charts from the report, “Fuel Cell Vehicle Market Size By Vehicle (Heavy Duty Vehicles, Agriculture, Buses, Port Vehicles, Automotive, Class 8, Others), By Distance (Short, Long) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Sweden, Italy, Norway, Spain, Netherlands, China, Japan, India, Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Table of Contents (ToC) of the report:
Fuel Cell Vehicle Market - Charts & Figures
FIG. 1 Hydrogen Stations, 2017
FIG. 2 Industry segmentation
FIG. 3 Industry landscape, (Units) (USD Million), 2013 – 2025
FIG. 4 Industry ecosystem analysis
FIG. 5 New vehicle sales, 2013-2017
FIG. 6 Growth potential analysis, 2018
FIG. 7 Porter’s analysis
FIG. 8 PESTLE analysis
FIG. 9 Industry share by vehicle, 2018 & 2025
FIG. 10 Industry share by distance, 2018 & 2025
FIG. 11 Industry share by region, 2018 & 2025
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/fuel-cell-electric-vehicle-market
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